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Teetering on Junk, Petrobras Intrigues High-Yield Investors Massive debt of troubled Brazil-owned energy firm could rally as a fallen angel Brazil’s state-run energy firm, known as Petrobras, had its bonds downgraded into junk territory by Moody’s. If Fitch or S&P follows suit, Petrobras’ status as a fallen angel may make it a worthy risk for... Continue Reading →
Petrobras / Clarification on News: Asset Sales Rio de Janeiro, April 2, 2015 – Petróleo Brasileiro S.A. – Petrobras complies with OFFICIAL LETTER/CVM/SEP/GEA-1/No. 110/2015, which requests the following clarification: OFFICIAL LETTER/CVM/SEP/GEA-1/No. 110/2015 In reference to market announcement released on March 19, 2015 in response to OFFICIAL LETTER/CVM/SEP/GEA-1/No. 84/2015, as well as news released on April... Continue Reading →
Petrobras / Sale of Assets in Argentina Rio de Janeiro, March 31, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that the Board of Directors of Petrobras Argentina (PESA) has approved to dispose of all of its assets located in the Austral Basin, in the Santa Cruz province, for US$ 101 million to Compañia General... Continue Reading →
Petrobras Woes Reach Europe as Slowdown Leaves Partners Hanging By Rodrigo Orihuela Mikael Holter 7:00 PM BRT April 1, 2015 When Italian oil services company Saipem SpA spent $300 million at the start of the decade in Brazil, it joined a long list of foreign companies jockeying for business with Petroleo Brasileiro SA. Now it’s... Continue Reading →
Petrobras Deepens China Tie With $3.5 Billion Loan Deal By Juan Pablo Spinetto 8:58 AM BRT April 1, 2015 (Bloomberg) -- Petroleo Brasileiro SA, the world’s most indebted oil producer, is bolstering ties to China as a corruption scandal has shut the company out of international bond markets. Petrobras, as Brazil’s state-run producer is known,... Continue Reading →
Petrobras to release results this month - Rousseff 24 minutes ago/FT Petrobras, the Brazilian energy company engulfed in a corruption scandal, will publish an audited set of financial results for 2014 by the end of April, according to Brazilian president Dilma Rousseff, Bloomberg reported. Ms Rousseff told the news agency that the release of the... Continue Reading →
Petrobras Investors Claim PwC Ignored Red Flags of Fraud By Patricia Hurtado 7:04 PM BRT March 30, 2015 (Bloomberg) -- Investors in Petroleo Brasileiro SA, the state-run oil company at the center of a kickback scandal in Brazil, expanded their lawsuit against the company by adding claims that auditor PricewaterhouseCoopers LLP turned a “blind eye”... Continue Reading →
Class Action Complaint Against Petroleo Brasileiro S.A.- Petrobas and Certain Additional Defendants - PBR March 30, 2015 07:30 ET | Source: Pomerantz LLP NEW YORK, March 30, 2015 (GLOBE NEWSWIRE) -- Lead Counsel Pomerantz LLP announces the filing of a consolidated amended securities class action complaint ("CAC") against Petroleo Brasileiro S.A. — Petrobras ("Petrobras" or the "Company") (NYSE:PBR), its... Continue Reading →
ExxonMobil Begins Production at Hadrian South; co-venturers Petrobras and Eni hold 23.3 percent and 30 percent, respectively. ExxonMobil BeginsProduction at HadrianSouth in Gulf of Mexico Gross daily production to reach approximately 300 million cubic feet of gas and 3,000 barrels of liquids ExxonMobil net daily production from Hadrian South and Lucius to reach more than... Continue Reading →
Skagen Bets on Petrobras as Producer Seen Emerging Stronger By Jonas Cho Walsgard 7:01 PM BRT March 29, 2015 (Bloomberg) -- Skagen AS, whose emerging market fund has beaten the benchmark eight of the past 10 years, is snapping up shares in Petroleo Brasileiro SA in a bet the state-owned oil producer will emerge stronger... Continue Reading →
Brazil Energy Insight 